ALLAMA IQBAL OPEN UNIVERSITY

MANAGEMENT THEORY & PRACTICE (8506)

Semester: Spring, 2022

Level: M. Com

ASSIGNMENT No. 1
(Units: 1–5)

Tutor’s Name : MISS ANAM KAMAL

Student Name : SHUJAAT HUSSAIN
Father’s Name : TAHIR HUSSAIN
Address : H-44/24 F.C. AREA LIAQUATABAD NO.4
KARACHI
Mobile No. : +92334-3525426

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Q. 1 Explain Mintberg’s managerial roles in detail.

Ans:

MINTBERG’S MANAGERIAL ROLES

There are numerous administration speculations. In any case, Henry

Mintzberg was one of only a handful of exceptional specialists who prevailed
to convey the supervisor's everyday jobs in various areas and positions.
Mintzberg proposed in his examination and especially in his two books: "The
Nature of Managerial Work" (1973) and "Inside our Strange World of
Organizations" (1989), that a chief should assume ten different parts
exchanging between them at whatever point it is required. The ten jobs
according to Mintzberg (1973) are: "nonentity, pioneer, contact, screen,
disseminator, representative, business person, unsettling influence overseer,
asset allocator, and moderator". These various jobs were additionally isolated
into three fundamental classifications: "relational, educational, and
decisional". These 10 jobs mirror the intricacy of the administrative position,
where some random chief has numerous obligations opposite his association,
his subordinates, his bosses, the investors, and the partners.

Brief historical review about the development of management concepts:

By and large, concentrates on connected with the executives have
gone through three times. The main time was before the modern upset,
somewhere in the range of 1820 and 1840, where the executive’s exercises
were limited to the proprietors who had thorough command over every one of
the assets. In any case, this crude administration practice contained a few
similitudes with the present administration jobs, for example, organizing,
arranging, and controlling. The subsequent period began inside the modern
upheaval where the thorough speculations and elements of the board like
preparation, sorting out, telling, planning, and controlling showed up
particularly with Henri Fayol (1916). A while later, and when the modern
transformation period had finished, the second modern insurgency began.
This new age is otherwise called the mechanical insurgency as it was a phase
of quick normalization and computerization arriving at the mid twentieth 100
years. Out of numerous scientists in this period, Professor Henry Mintzberg
directed a careful experiential examination about directors' standard exercises
through a huge assortment of associations and positions. Mintzberg (1973)
prescribed directors to play a choice of ten jobs isolated into three principal
classes in view of situational needs as displayed in the underneath picture

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Manager’s Job

Interpersonal Informational Decisional

Role Roles Role

Figurehead Monitor Entrepreneur

Disturbance
Leader Disseminator
Handler

Liaison Spokesperson Resource

Allocator

Negotiator

The different manager’s roles as per Mintzberg (1973):

Mintzberg's administrative hypothesis is established on the possibility
that administrators are associated with ten jobs, separated into three
fundamental groups: relational, instructive, and decisional. Besides, Henry
Mintzberg characterizes the working exertion of chiefs in every job. The ways
of behaving of those directors are pivotal parts for their prosperity. Obviously,
the ten jobs are enlivened by private and situational contemplations.

Interpersonal Role includes: Interpersonal roles cover the relationships

that a manager has to have with others. The three roles within this category
are figurehead, leader and liaison. Managers have to act as figureheads because of
their formal authority and symbolic position, representing their organizations.
1. Figurehead job: where a chief assumes formally the part of an expert
addressing his association in friendly exercises and occasions.
2. Leader: This job is connected with individuals' inspiration and
motivation. As a pioneer, a chief should mentor, backing, and guide his/her
subordinates.
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3. Liaison: The last job mentioned from a chief in the relational bunch is
to be a contact and to fabricate contacts with all partners. Chiefs ought to
supervise organizing even past their association limit.

Informational Role includes: Enlightening bunch incorporates

likewise extremely basic jobs. In light of these jobs, the supervisor should
convey, screen, make due, and disseminate the data at all levels.
Consequently, the definite jobs in this bunch are the following:
1. Entrepreneur: Acting as a business visionary, chiefs ought to
energize change and innovativeness by driving the execution of
groundbreaking thoughts.
2. Disturbance-handler: Chiefs are liable for keeping away from any
interruptions that can forestall accomplishing the required results.
3. Resource-allocator: Chiefs need to relegate and oversee an
assortment of monetary, mechanical, and HR exercises.
4. Negotiator: Definitely a chief is capable to complete significant talks
inside his specialization and association.

Basically, a fruitful chief knows when to assume each part

independently or a mix of jobs to make progress. The director's calling can be
characterized as assuming a few parts or arranged sets of activities connected
to his situation (Mintzberg, 1975). Be that as it may, with time and after the
learning association idea by Garvin et al (2008) was very much perceived, a
supervisor's job developed, and it needs another arrangement of abilities to
enable workers to accomplish their objectives as well as the hierarchical
objectives. Directors need to zero in on objectives, relations, and cooperation
(Yukl, 2001). To do as such, a chief necessity to play more the influential
position to rouse individuals and offer with them the important data to
cooperate collectively, participate, and gain from one another.

REFERENCES TO COVER THE TOPIC:

 https://www.accaglobal.com
 https://www.mindtools.com
 https://www.meirc.com

Q. 2 Describe Maximax, maximin and minimax decision making approaches.

Ans:

MAXIMAX

Maximax is a way to deal with a potential choice that endeavors to

expand the possible return. On the off chance that there is more than one
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expected result to a choice and the likelihood of every event isn't unsurprising
or unessential to the chief, this approach will basically check out at the
expressed worth of the result.

A maximax approach would take the choice in view of the greatest

possible result. This decision is for the most part utilized by confident people
who go for the most noteworthy payout with worry for the likelihood of event.
For instance, somebody playing the lottery when the payout is at a record high
is zeroing in on the potential prize as opposed to the likelihood of winning it.

DECISION MAKING APPROACHES

Following are some of the most common approaches used by decision

makers
 Expected Value Method
 Maxi-Max Method
 Maxi-Min Method
 Mini-Max Method

 Maximin method: The maximin approach is the point at which the

chiefs, gave one of a few blueprints, checks out at the absolute worst outcome
for each strategy. This accepts that there are various expected results for
every likely decision. The administrator picks the most noteworthy payout out
of the most terrible possible results for every decision. This is actually picking
the best of the worst situation imaginable.
This is a typical strategy for a worrier - as she expects the most terrible
result will be understood. A model would be a speculative financial backer who
is picking either at least two strategies. Funding venture might have a colossal
payout or all out misfortune. Stocks might have a decent outcome or identical
misfortunes. Treasure Bonds will have a low return however will likewise not
lose a lot of cash.
The maximin approach would pick the bonds, as this is the most noteworthy
incentive for the absolute worst result (an economy where funding and stocks
perform ineffectively).

 Minimax method: The Minimax choice methodology looks to limit the

culpability they feel for a game-plan. To do this, the administrator will take a
gander at the likely outcome for various strategies. For instance:
● Decision A: 10, 15, 50, 65
● Decision B: 20, 20, 40, 60
● Decision C: 15, 35, 25, 50
This set shows an equivalent likelihood for every section. That is, the
likelihood of A: 10, B: 20, and C: 15 is equivalent. She will then, at that point,
recognize the best result in each game-plan. In this game plan, it is A: 40, B:

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65, C: 60. Then, at that point, she will deduct the best outcome for every
likelihood from different probabilities in that section. In this manner, there will
be a zero and the rest negatives in every segment. Here is the payout table:
Choice A: - 10, - 20, 0, 0 Choice B: 0, 15, - 10, - 5 Decision C: - 5, 0, - 25, - 15
Now, the supervisor will need to pick the most ideal choice that limits her
lament. Lament is what she might have expected in the event that she pursued
an alternate decision. The director will distinguish the biggest misfortune
under every decision (A: - 20, B: - 15, C: - 25). You then settle on the decision
with the littlest loss of these available decisions. Decision B will limit the
potential lament that you have.

REFERENCES TO COVER THE TOPIC:

 https://thebusinessprofessor.com
 https://www.meirc.com
 https://www.accaglobal.com

Q3 Explain why strategic flexibility is important. Also describe e-business

strategies.

Ans:

STRATEGIC FLEXIBILITY

In a profoundly questionable and evolving climate, chiefs need to have

the essential adaptability to expediently answer issues. Vital adaptability is the
association's ability to distinguish significant changes in the outer climate,
immediately commit assets to new approaches because of those changes,
and perceive and act speedily when the time has come to stop or converse
existing asset responsibilities. This essential adaptability expects directors to
track down the right harmony between committing the assets important to do
a choice and staying away from speculation of good cash in terrible
undertakings. This article looks to assist supervisors with understanding the
significance of and troubles in creating vital adaptability. The test in doing this
outcome from the significant vulnerabilities innate in going with these essential
choices as well as from mental and hierarchical predispositions that influence
the consideration, evaluations, and activities of leaders in manners that keep
them from perceiving issues and acting in a convenient style. Being cautious
and judicious is significant yet not adequate assuming that directors are to
perceive when asset responsibilities ought to be ended or switched and act
rapidly. We show that chiefs might turn out to be unwittingly caught in an
endless loop of cold-heartedness, self-serving translation, and inaction. We
suggest six useful strides for staying away from such issues. We stress that
chiefs and associations ought to be ready and proactive to defeat the

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predispositions, to try not to become caught in the endless loop of unbending

nature, and to adapt successfully to the vulnerabilities of a unique climate.

IMPORTANCE OF STRATEGIC FLEXIBILITY

Vital adaptability can be a significant resource for a firm in view of its

capacity to successfully respond to changes. Key adaptability can be involved
by associations as both an offense and protection system, contingent upon
the idea of progress and its effect on the association.
For instance, when another player enters the market with another item,
it is a significant change in the outside climate of a current association. In the
event that the current association makes strides after another player has
entered the market, like putting more in innovative work (R&D) as well as
deals, then it is a safeguard component to safeguard its resources. Then
again, in the event that the association makes these strides as a preventive
measure before a potential new player has entered the market, then, at that
point, it is an offense component.
Contingent upon the outer change, there are four significant
perspectives that should be considered while forming vital adaptability:
1. How much time accessible to answer a significant change;
2. The scope of various arrangements accessible;
3. The viewpoint of the association as for the change; and
4. The center region of the adaptability that was made.
Directors need to consider these four perspectives while planning a
methodology; be that as it may, this cycle isn't simple since there are as yet
numerous vulnerabilities inside the interior as well as outer conditions. Mental
and hierarchical inclinations further compound possible issues and make it
considerably more challenging for supervisors to distinguish changes and
make suitable moves inside a fast time span. The onus is on the directors to
recognize changes and dole out fitting assets to deal with them; subsequently,
having an able supervisory group guarantees the ideal choices are being
made however much as could reasonably be expected and assets are not
being spent on dishonorable undertakings that could be hindering to the
association.
The capacity to show vital adaptability can build the worth of an
association as the business can all the more rapidly adjust to change and
subsequently better oversee risk.

E-BUSINESS STRATEGIES

Indeed, even with the Internet continually developing, online

organizations have for the most part subsided into a couple of classifications

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of web based business. A few procedures have demonstrated fruitful to drive

income and advance an organization both on the web and off. Picking the best
e-business procedure for either a laid out organization or a startup includes
making choices about where cash ought to come from and how the site can
get the most traffic.

Marketplace Hosting: Numerous e-organizations prevail by facilitating

a webpage for barters and online stores on which part can put things available
to be purchased. In this model, the site proprietor takes a level expense or a
level of deals in return for advancing the web-based commercial center and
helping with handling the exchange. A few organizations consolidate this
choice with their own distribution center, offering both their own merchandise
and publicizing individuals' postings for similar things. Extra income for the site
proprietor can emerge out of individuals paying extra charges to highlight their
contributions on the principal site.

Turnkey Business: A turnkey business capability with a previous layout

for its given industry. These sites might offer anything from diet pills to a
dating network for a specific city. The turnkey model requires less work than
others yet additionally faces tough opposition. The administrator should do
some legwork to create the site's substance and sell promotion space to
produce more pay. Advertising generally depends on the upgrading the site
to show up on whatever number web search tool result pages as could be
allowed.

AD-Supported Content: A few sites form into compelling e-

organizations without straightforwardly selling anything by any stretch of the
imagination. With enough beneficial substance and incessant updates,
online journals and comparable enlightening locales can succeed basically
by selling promotion space. The benefit relies upon the inspiration and ability
of individuals creating the substance. A blend of engaging the peruser and
attracting references to proper shopper items might possibly create an
adequate number of notices and income sharing to help the site as a
business.

Premium: The freemium model for e-business includes offering some

happy free of charge while charging participation duty or different charges
for unique access or materials. Frequently in blend with one more plan of
action, a freemium site takes care of both easygoing guests and committed
fans. The site can offer all satisfied free of charge at its starting to produce
interest and later start charging for participation, or the site can for all time
split its substance among free and paying individuals.

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Warehouse Sales: For a current organization, another organization

beginning with an overflow of item or an organization selling stock from retail
industry, an e-business can work as a deals point for a distribution center of
stock. For organizations with actual stores, the site can offer overloaded
things, well known things selling at high volume or dark things far-fetched to
sell at single areas. An internet based store can likewise sell extra product
purchased at closeout from different providers.

Social Media: While permitting clients to enroll accounts and contribute

their own data and content, a virtual entertainment site can make income
from promotions on the site as well as selling the individuals' data as
showcasing information. The site can have either an expansive extension or
a quite certain one with a geological, social, or interest-based subject. The
site engages and illuminates its clients, who can get designated
advertisements in light of what data they've entered on the site.

REFERENCES TO COVER THE TOPIC:

 https://www.jstor.org
 https://bizfluent.com
 https://agribusiness.purdue.edu
 https://www.divestopedia.com

Q. 4 Describe each of the five forms of departmentalization.

Ans:

DEPARTMENTALIZATION

Departmentalization or Departmentation is a cycle wherein

occupations/groups are joined together into useful units called as divisions
based on their area of specialization, to accomplish the objectives of the
association. Thus, along these lines, the whole association is separated into
parts, for example divisions which include a gathering of workers, who
complete exercises of comparable nature.
It decides the capabilities/exercises which are to be housed together
and composed at a similar spot. Further, it bunches the staff, who will
embrace the assigned capabilities/errands.
In a professional bureaucracy, each level beneath the top is
departmentalized, and each resulting level is additionally separated into
offices. The high level leaders, bunches exercises in different divisions, like
creation, promoting, finance, human asset, innovative work, and so on. These
divisions are going by senior chiefs, called as administrators of the particular
office. The departmental administrators can designate undertakings and
obligations to the subordinates, and they are responsible to the CEO for the
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exhibition of the division.

FORMS OF DEPARTMENTALIZATION

As indicated by Robbins S. P. furthermore, Coulter (2007), in all

association they will have their own particular approach to ordering and
gathering position into classes and arrangement. The premise of
departmentalization basically alludes to the division of the work and that which
representatives of various authoritative units that are answerable for doing the
obligations that was given. There are essentially five kinds of
departmentalization in associations that are being authorized at the ongoing
time. The five sorts of departmentalization are examined and recorded as
follows:
 Functional departmentalization
 Product departmentalization
 Customer departmentalization
 Geographical and process.
 Matrix departmentalization

Most organizations utilize a combination of various departmentalization

types. It tends to be useful departmentalization with process
departmentalization. Significantly, every worker knows precisely where the
person in question fits in.
Functional Departmentalization: Most organizations practice useful
departmentalization. A model is the Production office, HR division, Accounts
office, Marketing office and IT division.
Product Departmentalization: At the point when an organization has
many items, item departmentalization is a consistent decision. For instance,
Kimberly Clark makes kids' items, toiletry and modern cleanliness items.
Every item group has its own assembling plant, innovative work, and
advertising group.
Customer Departmentalization: At the point when an organization has
different client bases, client departmentalization permits better client
overhauling. A travel service can have one group dealing with corporate
clients, and the other group going for care of stroll in retail clients.
Geographical and Process: Geological departmentalization is really
great for a worldwide organization. The organization can recruit
neighborhood representatives to serve various clients from various
geological areas.
Matrix Departmentalization: The various workplaces in various
nations generally report to a provincial settle. For instance, the provincial
settle for Asia is in Singapore, and the territorial settle for Europe is in

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London. Process departmentalization is polished in numerous plants with

mechanical production system. The representatives are gathered into a
group to deal with a particular cycle.

REFERENCES TO COVER THE TOPIC:

 https://businessjargons.com
 http://scheng1.expertscolumn.com
 https://en.wikipedia.org/wiki
 https://www.youtube.com

Q. 5 Describe charismatic and visionary leadership.

Ans:

LEADERSHIP

Initiative is the capacity of an individual or a gathering of people to impact

and guide devotees or different individuals from an association. Initiative
includes making sound, and at times troublesome, choices, making and
articulating a reasonable vision, laying out reachable objectives and giving
devotees the information and instruments important to accomplish those
objectives.
Pioneers are found and expected in many parts of society, from business
to governmental issues to district to local area based associations. A
compelling pioneer have the accompanying attributes, serious areas of
strength for fearlessness and the board abilities, imaginative and creative
reasoning, persistence notwithstanding disappointment, eagerness to face
challenges, receptiveness to change, and reasonability and responsiveness
in the midst of emergency.
Various meanings of authority exist, albeit the various definitions for the
most part meet in the hypothesis that extraordinary pioneers can pursue vital
and visionary choices and persuade others to follow those choices. The
agreement is pioneers make a dream and can effectively get others to pursue
accomplishing that objective. They do this by setting course and rousing
others to need to prevail with regards to accomplishing the outcome.
Additionally, they are equipped for getting individuals energized and
persuaded to pursue the vision.
As such, extraordinary pioneers know how to both motivate individuals and
get devotees to finish the responsibilities that accomplish the pioneer's
objective.

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CHARISMATIC LEADERSHIP

Magnetic initiative is a their characterized by some pioneer relational

abilities, enticement, and appeal to impact others. Charming pioneers,
provided their capacity to interface with individuals on a profound level, are
particularly significant inside associations that are confronting an emergency
or are battling to push ahead. Each magnetic pioneer looks somewhat
changed. Notwithstanding, there are many key attributes that most appealing
pioneers share:

 Strong communicator
 Empathetic and relatable
 Confident
 Motivational
 Engaging and charming
 Optimistic

Magnetic pioneers can have a strong, positive effect on an association

and individuals they lead. In any case, assuming moved toward the incorrect
way, this administration style can without much of a stretch lead to potentially
negative side-effects.

VISIONARY LEADERSHIP

Not a wide range of initiative spotlight on similar advantages; some focus

on capacity to understand people on a profound level, while others stress
development. Visionary initiative is an administration style that is front oriented
and rouses others to seek after a typical future.
Visionary initiative is a business authority style that spotlights on a drawn
out plan for what's to come. A solid visionary pioneer has an unmistakable
thought representing things to come, which they convey to their
representatives to encourage a local area of joint effort and cooperation.
Visionary initiative covers with different styles of authority, for example,
pacesetting, which calls for somebody to fashion the way for their group to
accomplish aggressive objectives, and groundbreaking administration, which
combines development with careful arranging abilities.
In the event that you're keen on authority improvement and end up attracted
to a visionary initiative style, the following are five qualities to remember:

Ground breaking: The key initiative expertise of a visionary chief is that

they have a convincing vision for the future and are continuously evaluating
progress toward that objective. They proactively distinguish expected issues

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in the plan of action and imagine powerful arrangements before those issues
create.
Plan-situated: As well as keeping an unmistakable vision of the 10,000-foot
view, numerous visionary chiefs have a masterful course of action to
accomplish a specific outcome. From quarterly drives to yearly estimate
focuses on, a successful visionary pioneer understands what steps they and
their group need to take to arrive at their definitive objective.
Compelling at conveying: Some visionary chief necessities an inspired
group behind them to make their new vision a reality. This requires the pioneer
to major areas of strength for have and relational abilities, which empower
them to impart their objectives successfully, get everybody in total agreement,
and move colleagues.
Hopeful: By zeroing in on the future, a visionary chief will utilize their energy
to make everyone feel significantly better and propel the group to keep
pursuing the future, as opposed to harping on little mishaps.
Imaginative: Visionary pioneers are powerful at thinking outside about the
container or past business as usual, since they have a reasonable vision
representing things to come and will proceed with potentially dangerous
courses of action and trial to accomplish it.

A visionary authority style can be a compelling power in an organization by

aiding a CEO or business pioneer to:
Arrive at target objectives: Visionary administration, by zeroing in on
what's to come, underscores long haul objectives. This permits chiefs to
embrace their organization's motivation, planning their statement of purpose
and standard focuses to all highlight a definitive objective. Visionary initiative
can give organizations a significant benefit over other people who may just
see the present moment or everyday work. Nonetheless, some of the time
visionary pioneers can get excessively up to speed from here on out and may
miss significant subtleties right now; accomplishing a balance is significant.

Rouse workers and financial backers: Visionary pioneers frequently

appreciate critical help from their workers and financial backers, since they
invest energy conveying their vision proclamation to the group and cultivating
a local area of joint effort. Under powerful visionary administration, workers
will feel propelled to purchase in to the shared objective, and financial backers
will feel certain supporting the organization under the pioneer's vision.
Notwithstanding, visionary pioneers ought to likewise remember that their
vision isn't the main significant piece of their organization — they ought to
likewise be liberal and find opportunity to pay attention to their representatives
and financial backers to enhance the objective, as opposed to bulldoze others
for their vision.

Give the organization to other people: A significant benefit of a visionary

chief is that they can convey their vision to others in a manner that makes
regular force inside the organization culture. Representatives and different

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partners will carry on the vision regardless of whether the pioneer continues
on or steps away. This is a significant benefit over charming administration,
which depends vigorously on the pioneer's singular qualities and character,
bringing about an organization that will most likely be unable to push ahead
assuming the pioneer leaves.

REFERENCES TO COVER THE TOPIC:

 https://www.masterclass.com
 https://torch.io
 https://www.techtarget.com

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